Evolve Markets Full Review – Pros, Cons, My Experience


Evolve Markets

3.6

TRADING CONDITIONS

3.0/10

REGULATION

1.0/10

PRODUCTS

5.0/10

DEPOSIT/WITHDRAWAL OPTIONS

5.0/10

REPUTATION

4.0/10

Pros

  • CRYPTO TRADING
  • HUGE LEVERAGE
  • COLD STORAGE
  • 2 TRADING PLATFORMS

Cons

  • POTENTIALLY DANGEROUS LEVERAGE
  • NO REGULATION
  • LIMITED SUPPORT FOR CLIENTS

Evolve Markets is a Contract for Differences (CFD) finance broker. They have been in business since 2016 and specialize mainly in cryptocurrency spread trades. The 5 years in business quite a long time in this industry, which is promising. Can you really trust Evolve Markets with your hard-earned money? Today we are going to review Evolve Markets and look at what’s good, and what’s not quite so good about the broker.

Evolve Markets Trading Account Types

Evolve marketsOpens in a new tab.

Evolve Markets is also missing a proper demo platform where you can try out all the different features. It is possible to look around the platform before you register, but there is no money in the wallet, which means you can’t actually place any demo trades.

Regulation and Security Of Funds At Evolve Markets

The security of your money is one of the most important things to consider when choosing a brokerOpens in a new tab.

Evolve MarketsOpens in a new tab.

When looking through the website there isn’t an adequate amount of information about how clients’ money is kept separate and identifiable, which does raise some serious red flags. The site does mention that client funds are kept in an offline wallet which protects them from being hacked. But there doesn’t seem to be any mention of segregation of funds or protecting from hardware failures.

The website itself is secure, and Evolve Markets take the security of their clients very seriously. Client accounts are kept secure by using 2-factor authentication. This means that as well as a password, you also need your mobile phone to be able to log in. As a result, it should make it much more difficult for someone to gain unauthorized access to your account.

Trading Conditions At Evolve Markets

The trading conditions available at Evolve Markets are pretty competitive. The broker offers a very attractive leverage of 1:1000 on most cryptocurrency coins and forex exchanges. The other assets are typically capped lower. The fees are combined with the spreads which can make it a bit confusing to understand. The fees are also sometimes a bit more than some competitors.

Typically unregulated brokers like Evolve MarketsOpens in a new tab.

Which Trading Platforms Does Evolve Markets Offer?

Evolve has two different trading platforms, the industry-standard MT5 platformOpens in a new tab.

Their own proprietary trading platform looks very similar to TradingviewOpens in a new tab.

Tradingview, for reference.

Which Payment Methods Are Evolve Markets Accepting?

Like most other crypto brokers, deposits and withdrawals to Evolve Markets can only be made using certain types of cryptocurrency. Evolve Markets accepts deposits in Bitcoin, Ether, Tether or Litecoin. It’s also worth noting that your deposits will be left in the same currency you deposit it in and are not converted to any other type. If you have any other cryptocurrencies or want to pay with a card then you will need to go through a third-party exchange. It’s nice though that this broker doesn’t charge anything to make deposits. Money deposited appears in your account very quickly, normally as soon as the next confirmation on the blockchain.

Customer Support

If you have a problem with your deposit or trade, then you will need to raise a case with support. This is where Evolve Markets falls down. The only way of reaching support is by email. There is no live web chat or phone number to call. That said, email support is available 24 hours a day, Monday to Friday. You can expect a reply pretty quickly.

In Summary – Are Evolve Markets Legit?

It’s difficult to recommend anyone to use the Evolve Markets Cryptocurrency broker. The broker doesn’t really offer anything you can’t get for less money elsewhere. Also, as previously mentioned, I would never recommend an unregulated broker, especially one located in Saint Vincent and the Grenadines. There are simply many safer options available to choose from.

I would personally recommend using a regulated broker for your own safety. We have a whole list of the top forex brokersOpens in a new tab.

Kyle Townsend

I've been trading forex full-time since 2016. Over the last few years I have tried and tested all of the most popular forex brokers after being scammed by an unregulated broker back in 2017. I post my reviews to help others stay away from potentially high risk brokers!

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